NWS (0659) yesterday declared a special dividend payout as co-chief executive Brian Cheng Chi-ming said he considered himself more a worker than a boss, and that he is always open to advice and suggestions.
The company declared an interim dividend and a special dividend totaling HK$2.09 per share as its net profit jumped 18 percent yearly during the six months through December, benefiting from the resumption of economic activities after the Covid pandemic.
Cheng said that the special dividend payment mainly aimed to increase the equity liquidity, considering public shareholding only accounted for 22.2 percent now, lower than the requirement of 25 percent.
Other ways to enhance public shareholding will be considered, emphasizing that there is no plan to conduct share allotment, he added.
Brian Cheng, Hong Kong billionaire Henry Cheng Kar-shun's second son, was appointed to this position after Chow Tai Fook Enterprises bought out NWS shares from New World Development (0017) last year, which was seen as a restructuring of the family's assets.
With businesses, including toll roads, construction, insurance, logistics, and facilities management, NWS's net profit jumped 18 percent yearly to HK$1.01 billion, and its revenue advanced 6.66 percent to HK$13.98 billion.
The group's adjusted earnings before interest, taxes, depreciation, and amortization increased by 44 percent year-on-year to HK$3.73 billion.
Its roads segment saw a 19 percent increase yearly to HK$816.7 million for attributable operating profit, thanks to the economic recovery in the mainland. The like-for-like traffic flow and toll revenue exceeded the pre-pandemic level.
The insurance segment's operating profit surged 79 percent to HK$413 million, based on the adoption of a new reporting standard. The operating profits of the logistics and construction segments fell 15 percent and 5 percent, respectively, while facilities management swung to a profit.
When asked about his management style, Cheng said he did feel like a boss but a worker, and he would remain open to the advice and opinion of every stakeholder.
NWS's shares ended at HK$7.37 yesterday.
In other news, Sunevision's (1686) profit rose 0.53 percent to HK$435 million in the six months that ended in December, with no interim dividend declared.
The largest data center provider in Hong Kong recorded a 16.38 percent increase in its revenue of HK$1.29 billion, mainly contributed by the increased contract price and power increment in its data center and IT facilities business.
Brian Cheng revealed his management style. SING TAO
